The Fort Worth Press - Australian minister heads to China seeking 'unimpeded' trade

USD -
AED 3.672501
AFN 65.000326
ALL 80.892919
AMD 361.32971
ANG 1.789785
AOA 916.999859
ARS 1525.770399
AUD 1.426076
AWG 1.80125
AZN 1.700372
BAM 1.745603
BBD 2.015941
BDT 123.789462
BGN 1.747831
BHD 0.377732
BIF 3002.048312
BMD 1
BND 1.278595
BOB 11.765756
BRL 5.0436
BSD 1.000919
BTN 94.841883
BWP 13.749922
BYN 2.959737
BYR 19600
BZD 2.012996
CAD 1.40324
CDF 2316.000101
CHF 0.821855
CLF 0.024903
CLP 980.119732
CNY 6.67805
CNH 6.673525
COP 3197.66
CRC 456.813374
CUC 1
CUP 24.020564
CVE 98.41267
CZK 21.64665
DJF 178.22224
DKK 6.669799
DOP 61.426136
DZD 134.856023
EGP 55.181899
ERN 15
ETB 163.9445
EUR 0.89233
FJD 2.24975
FKP 0.746996
GBP 0.747575
GEL 2.590175
GGP 0.746996
GHS 11.600632
GIP 0.746996
GMD 72.99968
GNF 8858.324817
GTQ 7.649259
GYD 209.368334
HKD 7.83968
HNL 26.867244
HRK 6.728601
HTG 131.144176
HUF 326.895018
IDR 18074
ILS 3.107096
IMP 0.746996
INR 94.803897
IQD 1517.355874
IRR 1832375.000007
ISK 121.479582
JEP 0.746996
JMD 158.89648
JOD 0.709062
JPY 157.024498
KES 129.806428
KGS 87.449101
KHR 4071.869115
KMF 439.501063
KPW 899.999961
KRW 1324.496669
KWD 0.31046
KYD 0.834099
KZT 448.369735
LAK 22529.164472
LBP 89631.371779
LKR 332.234038
LRD 170.644961
LSL 16.508029
LTL 2.95274
LVL 0.60489
LYD 6.41191
MAD 9.82386
MDL 17.976204
MGA 4538.679186
MKD 54.926488
MMK 2100.035197
MNT 3598.866322
MOP 8.08237
MRU 39.995002
MUR 47.11987
MVR 15.459594
MWK 1735.587351
MXN 18.75362
MYR 4.083994
MZN 63.903439
NAD 16.507071
NGN 1331.889945
NIO 36.836045
NOK 9.35976
NPR 151.747191
NZD 1.760055
OMR 0.384506
PAB 1.000919
PEN 3.438519
PGK 4.482268
PHP 63.519501
PKR 277.015213
PLN 3.898945
PYG 5738.944945
QAR 3.658368
RON 4.769403
RSD 104.893972
RUB 81.501091
RWF 1479.33272
SAR 3.742715
SBD 8.07458
SCR 13.775995
SDG 601.503214
SEK 9.91506
SGD 1.277575
SHP 0.7473
SLE 23.920227
SLL 20969.504398
SOS 572.043164
SRD 37.735503
STD 20697.981008
STN 21.867776
SVC 8.757313
SYP 13001.999685
SZL 16.505197
THB 33.741501
TJS 9.203388
TMT 3.51
TND 2.982913
TOP 2.40776
TRY 49.617098
TTD 6.792399
TWD 32.558968
TZS 2646.654982
UAH 45.101592
UGX 4288.761748
UYU 40.127988
UZS 11917.905419
VES 879.788897
VND 25851.5
VUV 118.676507
WST 2.769234
XAF 585.330098
XAG 0.017878
XAU 0.000245845518
XCD 2.70255
XCG 1.803868
XDR 0.707052
XOF 585.330098
XPF 106.446977
YER 236.097801
ZAR 16.5147
ZMK 9001.198572
ZMW 20.093362
ZWL 321.999592
SSP 5745.343966
MXV 2.116716
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

Australian minister heads to China seeking 'unimpeded' trade
Australian minister heads to China seeking 'unimpeded' trade / Photo: © AFP

Australian minister heads to China seeking 'unimpeded' trade

Australia's trade minister flew to Beijing on Thursday on a mission to demolish all Chinese import barriers after years of punishing sanctions and unofficial bans.

Text size:

Trade Minister Don Farrell said he aimed to secure unrestricted commerce with China, Australia's largest trade partner with a healthy appetite for its vast iron ore and coal resources.

"During my visit, I will be advocating strongly for the full resumption of unimpeded Australian exports to China -- for all sectors," he said in a statement on the eve of Friday's meeting.

Farrell, who is to meet with China's commerce minister, Wang Wentao, said fully reopening trade would benefit exporters and producers in both countries.

The meeting represents a "signficant breakthrough" in rebuilding the relationship, said Australia China Business Council president David Olsson, who is with the Australian delegation.

It will be the first face-to-face meeting between the two nations' trade ministers since 2019, he said.

- 'Important step' -

"We recognise that this won't happen overnight, but the removal of the trade obstacles affecting Australian exporters would be seen as an important step in rebuilding confidence and trust," Olsson said

China slapped hefty tariffs on key Australian exports such as barley, beef and wine in 2020, showing its readiness to leverage its economic muscle at the height of a bitter dispute with the former conservative government.

It also stopped imports of some of Australia's most significant export commodities, including coal, curbing billions of dollars in trade.

China had been angered by Australia's legislation against overseas influence operations, its barring Huawei from 5G contracts and its call for an independent investigation into the origins of the Covid-19 pandemic.

Australia retaliated by complaining to the World Trade Organization, alleging China had breached international obligations by artificially jacking up tariffs "without justification".

- Balancing act -

Their icy relations appear to have thawed since Australia's centre-left government adopted a less confrontational approach to China following its election a year ago.

Chinese President Xi Jinping called for relations with Australia to "improve" and "develop" in a November 2022 meeting with Australian Prime Minister Anthony Albanese.

It was the first formal summit between the two countries in more than five years.

China then took delivery of its first Australian coal shipment in February this year, after an unofficial ban of two years.

Trade in other goods also appears set to open up.

"The Australian government is pleased there have been several positive trade developments, including the resumption of coal, cotton, and copper trade and China's agreement to undertake an expedited review of duties on Australian barley," Farrell said.

Even with the remaining restrictions, two-way trade between the countries was worth Aus$287 billion (US$195 billion) last year.

- Nuclear-powered submarines -

Australia faces a difficult balancing act -- China is its largest trading partner but also a rival in the battle for diplomatic and military influence in the South Pacific region.

Canberra angered Beijing in March by announcing it would acquire nuclear-powered submarines in a pact with the United States and Britain as part of an ambitious plan to bulk up Western muscle in the Asia-Pacific.

Farrell said he would also raise "other issues of importance to Australians", without giving details.

Australia called last week for one of its nationals -- jailed journalist Cheng Lei -- to be reunited with her family after 1,000 days in detention in China.

Cheng, a former anchor at Chinese state broadcaster CGTN, disappeared on August 13, 2020, and was later charged with "supplying state secrets overseas".

F.Garcia--TFWP